News

Kroger has named Greg Foran, former CEO of Air New Zealand and president of Walmart’s U.S. operations, as its new CEO. Foran is credited with turning around Walmart’s U.S. business and bringing a focus on digital growth. Analysts believe he will bring instant credibility to Kroger and will likely prioritize strengthening in-store execution and accelerating digital growth.

The announcement comes after a year-long search following the ouster of former CEO Rodney McMullen. Kroger’s shares were up about 6% in early trading on Monday as Foran takes the helm. With Foran’s successful track record in the retail industry, Kroger looks set to continue its growth trajectory under his leadership.

The operator of Eddie Bauer stores in the U.S. and Canada has filed for Chapter 11 bankruptcy protection due to declining sales and industry challenges. This marks the third time the brand has faced bankruptcy in its storied history that began in Seattle as a fishing shop. Eddie Bauer LLC will undergo a restructuring process with secured lenders while maintaining some retail and outlet store operations. The brand’s e-commerce and wholesale operations, not affected by the filing, will continue under a separate entity.

Despite its iconic history and legacy, Eddie Bauer has struggled to keep up with competitors in the outdoor apparel market. Issues such as declining quality and a perception as old-fashioned have impacted the brand’s appeal to younger consumers. The restructuring aims to optimize value for stakeholders while ensuring the brand remains profitable in the future. This move reflects the evolving landscape of retail as companies adapt to changing consumer preferences and market conditions.

Workday CEO Carl Eschenbach has announced his resignation, with co-founder Aneel Bhusri stepping in as the new CEO. Bhusri, who has held various leadership roles at the company, emphasized the importance of artificial intelligence (AI) in shaping the future of the software sector. This transition comes amid concerns about AI’s impact on the industry and a decline in Workday’s stock performance. Eschenbach, who has been with the company for several years, expressed pride in the achievements made during his tenure as CEO, including operational improvements and advancements in AI technology. Workday’s strategic decisions and leadership changes reflect the evolving landscape of the software industry.

Nike shares dropped more than 10% in premarket trading on Friday as concerns about its performance in China outweighed the company’s earnings beat. Despite posting quarterly earnings and revenue that surpassed Wall Street’s estimates, Nike reported a significant decline in sales in its Greater China market, leading to a 17% drop in revenue in that region. The sportswear giant’s stock movement also reflects the impact of higher tariffs on its business.

CEO Elliott Hill is leading Nike through a turnaround strategy that focuses on regaining growth and market share, as well as investing in wholesale relationships. Hill acknowledged challenges in the China market but remains optimistic about the company’s long-term opportunities in the region. Nike expects modest growth in North America for the fiscal third quarter but anticipates a decrease in gross margins due to tariffs. Despite some weaknesses in its business, Nike highlighted areas of strength and new initiatives, such as the launch of a new footwear platform called Nike Mind. Investors are closely monitoring Nike’s performance in China as it navigates the complexities of its turnaround plan.

Law firms representing Google and Apple have advised employees needing a visa stamp to re-enter the United States to avoid leaving the country due to longer visa processing times. Memos from BAL Immigration Law (representing Google) and Fragomen (representing Apple) have highlighted the unpredictable delays in visa processing and recommended against international travel. The State Department has confirmed that embassies are prioritizing thorough vetting of visa cases over all else, causing disruptions for hundreds of Indian professionals renewing their U.S. work visas.

Holiday shopping has traditionally been a time-consuming task for many, but 24-year-old retail tech CEO Amrita Bhasin found a solution in AI. With platforms like ChatGPT, consumers can now get personalized gift recommendations, compare prices, and discover new brands in a fraction of the time. This shift to AI shopping is expected to drive $263 billion in global online holiday sales this year, with an increase in engagement and revenue per session for retailers.

As shoppers turn to AI assistants for their holiday purchases, major retailers like Walmart, Target, and Etsy are adapting their strategies to be present on these platforms. While the use of AI shopping assistants has proven beneficial for many, some consumers still prefer the traditional browsing experience. Despite challenges in personalization, AI-powered shopping is reshaping the retail landscape and forcing businesses to rethink their strategies to stay visible and relevant in the digital age.

Venture capitalists face the challenge of selling themselves as trustworthy partners to founders and worthwhile investments to limited partners. Leslie Feinzaig of Graham & Walker and Ross Fubini of XYZ Ventures shared their experiences raising their first funds, emphasizing the importance of personal connections, firm values, and favorable terms in partnerships. In a shifting market where founders have more power, choosing the right VC becomes crucial for mutual success.

Feinzaig and Fubini offer practical advice for VCs and founders alike, emphasizing the value of authentic relationships and execution in attracting the right people to work with. As the dynamics of fundraising evolve, strategies such as pitch decks and cold emails may lose some power, but the focus remains on building strong connections and delivering results. New episodes of Build Mode explore these dynamics, providing insights into the evolving landscape of venture capital fundraising.